Essential data to monitor for market trends and the impact of cryptocurrencies

This week, all eyes are on key economic events in the US, including the S&P Global Services PMI and other key macroeconomic indicators and developments. These releases will provide insights into the country’s economic performance, influencing market sentiment and investor decisions in various markets, including Cryptocurrency market. Here’s a quick look at what to expect.

Purchasing Managers’ Index (S&P) for global services

The S&P Global US Services PMI tracks variables such as sales, employment, inventories and prices. It covers sectors including consumer (excluding retail), transport, information, communications, finance, insurance, real estate and business services.

In December 2024, it rose to 58.5 from 56.1, contrary to expectations for a decline to 55.7.

The indicator will be released today.

A higher than expected PMI indicates economic strength. If growth leads to monetary tightening, it could put pressure on cryptocurrency prices.

Job opportunities in JOLTs

The Survey of Job Opportunities and Labor Turnover Index assesses the unrealized demand for labor in the US labor market.

In September, it fell from 7.86 million to 7.37 million. In October, the number rebounded from 7.74 million, leading to sharp growth.

This indicator will be released today. It is expected to fall to a range of 7.69 million to 7.65 million.

A decline in job opportunities may indicate an economic slowdown, which may reduce the risk of interest rate hikes. This could support cryptocurrencies as investors turn towards alternative investments during turbulent times.

Change hiring at ADP

The US ADP Employment Change Index assesses employment levels in the private non-farm sector. The report was jointly prepared by the ADP Research Institute and the Digital Econometrics Laboratory.

In October, it rose from 159,000 to 184,000. In October, it dropped to 146,000.

The index will be released on Wednesday. It is expected to fall to a range of 143,000 to 140,000.

Lower employment growth may indicate a slowdown in the economy, which encourages the economy Federal Reserve To maintain or ease monetary policies. This could promote cryptocurrencies as a hedge against traditional market instability.

• Read also:
• Is Wall Street Secretly Manipulating Bitcoin for Big Profits? Here’s the truth!
• ,

Unemployment rate

The US Unemployment Rate Index calculates the number of actual job seekers as a percentage of the labor force.

In September, it fell slightly to 4.1% from 4.2%. In October it remained unchanged. In November, it rose to 4.2%.

The index will be released on Friday. It is expected to remain unchanged or grow slightly to reach 4.3%.

A stable or slightly higher unemployment rate may indicate a slowing economy, which could lead to less aggressive interest rate increases. This may create a favorable environment for cryptocurrencies as risk appetite increases.

In conclusion, this week is pivotal for the US economy, as major macroeconomic releases influence market sentiment. In addition, the release of Fed meeting minutes and eight Fed speaker events will provide further insights into monetary policy trends.

Monitor these events to get a comprehensive view of the market’s path.